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A Malta Golden Visa is the key for wealthy investors who want to invest in foreign countries. This citizenship by investment program is one of the most important economic citizenship programs in the world. While getting second citizenship can be hazardous for certain citizens like the ones from China, an alternative residence in Malta can be a great option. If you want to know more about Malta Golden Visa, keep reading.
The Malta Golden Visa is a program where non-EU citizens can obtain a Malta residence permit to live and travel freely in Malta. This visa program was launched in the year 2015, and it allows foreigners to get a valid European residence permit in a legal way. Once someone receives his or her Golden Visa, he/she can travel freely to all EU Schengen Area countries, including Switzerland and no longer needs to apply for a Schengen Visa.
The eligibility criteria for Malta Golden Visa for Indian citizens are written below.
For the Maltese Golden Visa programme, any amount ranging from € 700,000 – € 1,460,000 is considered a qualifying investment.
Here are more details about it.
When one applies for Maltese citizenship by investment, he/she is supposed to contribute to the National Development of Social Fund organised by the Government. A board of trustees runs it, and these funds are utilised to fund finance projects such as education, public health, job creation, social empowerment, and more.
Thus, if one proves residency of 36 months in the country, one has to contribute € 600,000 and € 750,000 if one proves 12 months of residence. One has to make an additional contribution of € 50,000 for every additional dependent. However, applicants must remember that these contributions are non-refundable.
One has to purchase a real estate property whose minimum value must be € 350,000 or has to lease a property whose yearly rent must be € 12,000 compulsorily. However, if the property is located in the South of Malta or Gozo, the property rent and purchase amount will decrease. The purchase amount becomes € 300,000, and the rent amount decreases to € 10,000. Additionally, one has to retain the rented or purchased property for a minimum of 5 years from the date of the certificate of citizenship.
Other than real estate and contribution, one must donate at least € 10,000 to a registered non-governmental organisation. Moreover, it must be a charitable organisation.
The documents required to apply for a Malta Golden Visa 2022 are-
In addition to the main investment, when one applies for a Malta Golden Visa, they are expected to pay tens of thousands of euros as additional fees. This includes an administrative fee of € 40,000 for the due diligence fees and the visa application fees. Altogether, one can expect to pay over € 50,000 as the total cost of Malta Golden Visa, which includes the acquisition of documents, services charges and legal fees.
The Malta Golden Visa program is important to become a permanent citizen of Malta or any other place in the EU. Additionally, it allows high-income individuals to obtain a Maltese passport within one to three years. However, people also choose to opt for these programs for other exclusive benefits attached to them like the ones mentioned below.
The Malta Golden Visa comes with a number of benefits. Here are a few-
The Malta Golden Visa allows investors to receive Malta residence cards and Malta residence certificates depending on eligibility criteria and investments done. The Malta residence card remains valid for 5 years with unlimited extensions.
However, the residence certificate does not have any expiry date. The e-Residence Card, on the other hand, will be valid for a period of 5 years, initially, and it will be subject to annual monitoring and check whether existing conditions continue to be met.
Additionally, one must also remember that a residence card processing fee is applicable when a card is renewed or issued. The fee is € 27.50 for one year for one person. Hence, the card carries a fee of € 137.50 for five years.
Here is the information about where one can find Malta Embassies and consulates in India.
|
Location |
Contact Details |
|
New Delhi (Malta Embassy) |
N60 Panchsheel Park, New Delhi- 110 017 Contact Number: 91-11-4767-4900 |
|
Kolkata (Malta Consulate) |
AP Fashions (P) Ltd, 227 A J C Bose Road, Kolkata- 700020 Contact Number: 91-33-2280-7240 |
|
Chennai (Malta Consulate) |
10, II Street, Seethamal Colony, Alwarpet, Chennai- 600 018 Contact Number: 91-44-4203-1011 |
That being said, this is all about the Malta Golden Visa. Several foreigners, out of which Indians, go to Malta to live. Having a better knowledge of the process, documents, and other information mentioned in this article will help interested individuals make informed decisions.
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Disclaimer -
Your policy is subjected to terms and conditions mentioned in your policy schedule and policy wording. Please go through the documents carefully.
The information mentioned here about the countries, visa fees and others is taken from different sources. Digit Insurance is not promoting or recommending anything here. Please verify the same before you book your tickets, apply for a visa, buy a travel policy or make any other decision.
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